Over the years, IFC has drawn on its global and local experience and has provided a combination of investments and advisory services in Bangladesh. As of June 30, 2016 IFC’s committed portfolio in Bangladesh is over:
IFC promotes sustainable growth and private sector development in Bangladesh through investing in critical infrastructure; boosting financial inclusion; enhancing textiles competitiveness and supporting reforms to make doing business easier for private sector
STORIES OF IMPACT
Transforming the Garment Sector: Bangladesh’s garments and textiles sector accounts for 80% of the country’s total export earnings and 20% of its GDP. The sector is committed to becoming globally competitive and safe for its employees. Over the past two years, IFC and the ILO launched the Better Work program, which helps factories comply with water- and energy-efficiency methods. IFC and Accord and Alliance, which represents the world’s leading garment brands, are supporting the campaign to implement fire and building safety measures in the country's supplier factories. Additionally IFC is also providing long-term financing to local banks and forming partnerships with leading international buyers, to make the garment industry safer for its workers.
Improving Access to Clean Electricity: Approximately 70 million people in Bangladesh do not have access to grid electricity. Another 60 million have unreliable grid connections. Off-grid communities meet their lighting needs by burning fossil fuels like kerosene and diesel, which are inefficient, uneconomical, unhealthy, environmentally damaging and dangerous. Through the Lighting Bangladesh program, IFC aims to take power to communities outside the reach of the national grid, reaching approximately 70 million people without grid access and another 60 million with unreliable connections. This will help reduce the emission of 76000 ton of Carbon Dioxide by 2017.
Contributing to Food Security: Bangladesh is extremely vulnerable to the impacts of climate change. To help ensure food security and climate change adaptation, IFC is actively promoting climate-resilient agricultural practices in the country, and working with the private and public sectors to build greater efficiencies in the use of their resources. IFC works with four of Bangladesh’s largest private seed-companies to demonstrate the business case for stress-tolerant seeds and raise awareness of how they can be used. IFC also works with seed growers, dealers, and retailers to expose them to new seed varieties and their production process by supervising field demonstrations.
Published in March 2016